Elder Impulse System
Elder's impulse system indicators.
This is very good and famous system for current market conditions, maybe we could start a thread about. What you think?
This is very good and famous system for current market conditions, maybe we could start a thread about. What you think?
Hi, Linuxser.
You read y mind about thread,with all good Mladen contributions it maybe interesting for many peoples.
So... new thread is born. It have the Elder's signature, satisfaction garantized.
Some addition info for triple screen method
Kaufman's Rules For Elder's Triple Screen
below is for buys only, reverse logic for shorting
Screen 1:
Major Movement --- MACD -- determine major market trend using the slope of
the weekly MACD
Screen 2:
Intermediate Movement ---
Bear and Bull Power--- RULES =
1. Trend of Major is up
2. Bear power is negative but rising --bear power must be below 0.
Filters:
Two other steps may be used to filter trades and improve performance --but
"are not required"
3. The last Peak in bull power is higher than the previous peak (or not
significantly lower)
4. "Bear power is rising from a bullish divergence."
Timing ENTRY:
When price moves above the previous day high.
STOP LOSS
1. Lower 1.low of the entry day or 2. Previous day low
2. Move stop to breakeven ASAP -- after moving up some --
3. Move stop to protect 50% of highest profits.
Template
Here is a simple template.
I decided with this one to include two more Elder's indicators because I would like to explain (also) the Bull and Bear indicators and how useful could be.
Feel free to choose any other and replace them, but please do not add 5 more just because it's a nice view, it's a system, not a Christmas three.
Quotes from the book 1
Quotes from the Come into my trading room:
On the other hand, momentum trading requires the cold detached discipline of a professional card counter in a casino. Successful momentum trading, like professional gambling, is a boring business. The ability to accept small steady gains—essential for momentum trading—is very rare.
Few people can walk away from the table just as the party gets going.
The crowd of amateurs around him is having a lot of fun losing.Taking profits is stressful because of a normal human tendency to hold out for a little more and then beat yourself up for having left too early.
A momentum trader needs a set of technical rules, a money management system, and iron discipline to enter when the time is right and exit without regrets after hitting his profit target or a loss limit.
What is it?
What is the Impulse and how it works? pretty easy it' a combination of three indicators as you see n the pictures, two are set for the trading TF and one for the higher TF.
What you see on the candles is just the indicators painting the bars according with the preset conditions .
Result:
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
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Elder's impulse system indicators.